Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 34,127 89,800 110,000 10,990 322,168 $ 567,085 $ 39,891 $ 40,331 62,600 51,500 83,000 53,000 10,472 4,481 292,903 250,088 $ 488,866 $ 399,400 $ 144,028 $ 84,271 $ 53,775 108, 744 162,500 151,813 $ 567,085 114,688 90,033 162,500 162,500 127,407 93,092 $ 488, 866 $ 399,400 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit A For Year Ended December 31 Current Yr 1 Yr Ago Sales $ 737,211 $ 581,751 Cost of goods sold $ 449,699 $ 3, 138 Other operating expenses 228,535 147,183 Interest expense 12,533 13,380 Income tax expense 9,584 8,726 Total costs and expenses 700,351 547,427 Net income $ 36,860 $ 34,324 $ 2.27 $ Earnings per share 2.11 (3-a) Compute inventory turnover. (3-b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 3A Required 3B Compute inventory turnover. Inventory. Turnover 1 Choose Denominator: Choose Numerator: II Inventory Turnover 1 = Inventory turnover Current Yr: 1 11 times 1 Yr Ago: 1 11 times Requires Required 3B > (3-a) Compute inventory turnover. (3-b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 3A Required 3B For each ratio, determine if it improved or worsened in the current year. Inventory turnover